Merchant Cash Advance
Compare different Merchant Cash Advance loan options in the UK, find a lender that meets your requirements.
Did you know that with a Merchant Cash Advance (MCA), you can lend money based on your monthly card takings?
We work with a number of lenders that will purchase up to 150% of your future monthly card takings. They agree a fixed repayment amount and then take a percentage of your future card machine takings to repay the loan.
This keeps repayments flexible and in line with turnover, months with lower takings means lower repayments.
An MCA may also be referred to as a Business Cash Advance, which is the same product.
- Pubs & Restaurants
- Takeaways & Fast Food
- Hotels and B&Bs
- Hair & Beauty Salons
- Independent Retailers and Shops
- Automotive Garages & MOT
- Furniture & Soft Furnishings
- Theatres & Cinemas
- Sport & Social Clubs
- Cosmetic Surgery
Most trading businesses that take card payments from consumers on a regular basis could be eligible for this type of finance.
Independent Cash Advance Experts
The acceptance rate of Merchant / Business Cash Advance loans are very high. You may be accepted even if you have been declined for other types of business loans.
They can be arranged very quickly, you can have the money in your account in as little as 48 hours from application.
Speak to one of our MCA experts today to see what options may be available to grow your business?
FAQ: Merchant Cash Advance Frequently Asked Questions
What is a Merchant Cash Advance?
A merchant cash advance (MCA) is a type of business loan based on your monthly card takings. The lender “purchases” a percentage of your future card takings until the loan (plus any costs) are repaid.
The lender takes a percentage of each days card takings (e.g. 10%) and you get the remainder.
Businesses such as shops, pubs and restaurants can get quick access to funding, even if they have been declined elsewhere.
Can sole traders and partnerships apply?
Yes sole traders and partnerships can apply for this type of funding. We can help all legal entities; Sole Traders, Partnerships and Limited companies.
Do you have do be a Home Owner?
No, you do not have to be a home owner to receive a Business/Merchant Cash Advance. You can be a rental tenant and still apply.
Can you help someone who has adverse credit?
Every application is reviewed on a case by case basis, but it is best to let us know about any adverse credit so we can place you with the correct lender.
Can I repay the cash advance early?
Yes, you can repay early but you do not save any money in doing this as the fixed fee agreed in advance remains the same.
Can I have a cash advance from more than one provider at the same time?
It is only possible to have one split set up on a merchant’s bank account at a time. If you have more than one card provider or receive income from JustEat, Deliveroo or UberEats, then it may be possible to have another.
How much does a merchant cash advance cost?
This really depends on a number of factors such as your businesses credit rating, sector, turnover and other information. It is usually based on a factor rate, so this means a fixed cost of every pound borrowed.
Merchants typically pay an additional 8 – 35p for every £1 advanced.
e.g. Factor Rate 1.3, for every £1000 you borrow you repay £1300.
Please get in touch with us today and we can speak with a number of lenders to get you a quote.
What Can a Merchant Cash Advance Be Used For?
It can be used for a wide range of legitimate business purposes. This could include but not limited to the following reasons:
- Fund an order
- VAT or Tax Bill
- Marketing Campaign
- Office Equipment
Which Businesses & Sectors Can Apply?
Any business that takes regular card payments either in store, over the phone or via a website can apply for a Merchant Cash Advance.
Here are a list of common sectors that may apply for a MCA loan:
Pub & Bar Merchant Cash Advance
Pubs and bars can apply for a cash advance loan as long as you are open and still processing card payments via your terminals.
Even if at a lower turnover than usual due to Covid restrictions, you can still apply.
If your pub is currently closed due to Tier 3 restrictions, you may still be able to apply and be conditionally approved. Then as soon as you can reopen and resume trade the loan can be paid out.
Get in touch to speak with an expert on pub finance.
Hair & Beauty Salon Merchant Cash Advance
There are a number of cash advance providers that cater for hair salons and beauty salons.
Provided you are taking a significant proportion of you takings via a card terminal, then you can apply for a loan.
We have experienced salon finance experts that can discuss your options.
Takeaways - Just Eat, Deliveroo & Uber Eats Cash Advance
If you are taking a large proportion of your card takings via Just Eat, it is possible to take out a cash advance loan against the average monthly income.
This option is available to many fast growing takeaways and fast food restaurants.
Click on the options below to find out more information:
Take Away Food Restaurants
Even if you are not taking orders via Just Eat or other platforms, you can still apply for a merchant cash advance. They can be secured against average card takings from phone or website orders.
eCommerce & Online Retail Finance
If your business is primarily online then you are likely taking most of your income via a merchant service provider like Amazon, Stripe or Shopify.
You could potentially lend up to £500,000 unsecured with a Merchant Cash Advance, with repayments made from your future sales.
Which Merchant Service Providers Can You Get Finance For?
There are a large number of PDQ machine and merchant service providers in the UK. So if you are taking card payments in person or online, you can still apply.
We can fund against nearly every UK provider, here are the most popular ones.
- Sage Pay
- First Data Merchant Service (FDMS)
- RMS: Retail Merchant Services
- Lloyds Bank Cardnet
- HSBC Merchant Services
- Amazon Pay & Amazon FBA
- NetPay Merchant Services
- Global Payments
- Card Cutters
- EVO Payments
- AIB Merchant Services
- Intelligent Merchant Services
- Axcess Merchant Services
- Independent Merchant Services
Apply Now To Compare Merchant Cash Advance Loans
As an independent finance broker, we can guide you though the application process and compare providers.
We help you to present your application to an appropriate lender, to maximise your chances of approval.
Fill in the form below and we will be in touch within a few hours.